Early on, it looked like 2011 would finally be a year of recovery. The unemployment rate dropped to its lowest level in two years. In mid-February, the Federal Reserve upped its growth outlook, predicting the U.S. economy could grow as much as 3.9%. Then came rising oil prices, the Japanese nuclear disaster and a series of confidence-killing Washington budget showdowns. By mid-year the unemployment rate was rising again, and economic growth had slowed to 1%. What also became clear in 2011 was that not everyone had been equally hurt by the recession and its aftermath. Corporate profits and CEO salaries were on the rise again. Earnings at high-end retailer Tiffany jumped 40%. Meanwhile, the portion of the nation's 14 million unemployed who had been out of work for more than six months reached 42% a post World War II high. Worse, there was a growing sense that Washington could do or was willing to do little about it. The stimulus money has been mostly spent, and Obama's plan to extend the payroll tax cut has been getting a cold reception in Washington. Recently, the economy has shown some signs of life the unemployment rate is dropping again and the holiday shopping season has started off stronger than expected but probably not enough to help those still struggling to find work.
The Top 10 Everything of 2011
- Top 10 Albums
- Top 10 Animal Stories
- Top 10 Apologies
- Top 10 Business Blunders
- Top 10 Buzzwords
- Top 10 Comebacks
- Top 10 Consumer-Spending Trends
- Top 10 Crime Stories
- Top 10 Campaign-Debate Moments
- Top 10 Best Fashion Moments
- Top 10 Worst Fashion Moments
- Top 10 Feuds
- Top 10 Fiction Books
- Top 10 Fleeting Celebrities
- Top 10 Food Trends
- Top 10 Gadgets
- Top 10 Green Trends
- Top 10 Marriage Stories
- Top 10 Medical Breakthroughs
- Top 10 Memes
- Top 10 Movie Performances
- Top 10 Worst Movies
- Top 10 Best Movies
- Top 10 New Findings in Parenting
- Top 10 New Species
- Top 10 Nonfiction Books
- Top 10 Numbers
- Top 10 Oddball-News Stories
- Top 10 Overreported Stories
- Top 10 People Not Running for President
- Top 10 Plays and Musicals
- Top 10 Political Gaffes
- Top 10 Protest Signs
- Top 10 Quotes
- Top 10 Religion Stories
- Top 10 Ridiculously Obvious Study Findings
- Top 10 Scandals
- Top 10 Smart-Phone Apps
- Top 10 Songs
- Top 10 Space Moments
- Top 10 Sports Moments
- Top 10 Toys
- Top 10 TV Ads
- Top 10 TV Episodes
- Top 10 TV Series
- Top 10 Best Tweets
- Top 10 Worst Tweets
- Top 10 U.S.-News Stories
- Top 10 Underreported Stories
- Top 10 Video Games
- Top 10 Creative Videos
- Top 10 Viral Videos
- Top 10 World-News Stories
- Top 10 Photos of the Year
In 54 wide-ranging lists, TIME surveys the highs and lows, the good and the bad, of the past 12 months